The Department of Labor and Industries has ordered a 51-year-old former Yakima man to pay back $16,649.76 after an investigation showed he allegedly collected workers’ compensation benefits illegally for two-and-a-half years. L&I issued a fraud order to Juan Ocampo, now …
Standard & Poor’s said that although the European reinsurance market is expected to remain hard beyond 2003, it maintains its negative outlook for the industry for the fifth year running, due to uncertainty over the long-term sustainability of rate increases. …
Many European insurers expect claims totaling millions of euros as flooding that has heavily damaged areas of the Czech Republic and Austria now threaten eastern Germany. Reuters reports that several European insurers’ financial standings are already precarious due to claims …
Standard & Poor’s has assigned its triple-‘B’-minus counterparty credit rating to Canadian-based Odyssey Re Holdings Corp. The outlook is stable. Standard & Poor’s also said that it assigned its preliminary triple-‘B’-minus senior debt, double-‘B’-plus subordinated debt, and double-‘B’ preferred stock …
Standard & Poor’s has assigned its triple-‘B’-plus insurer financial strength and counterparty credit ratings to Taiwan-based Chung Kuo Insurance Co. Ltd. (Chung Kuo), based on the company’s strong capitalization, prudent investment profile, and satisfactory underwriting performance. The strengths are counterbalanced …
Travelers Property & Casualty will have its class B shares included in the Standard & Poor’s 500 Index. Travelers Property Casualty Chairman and CEO Robert Lipp, noted “I am very pleased that the hard work of our 20,000-plus employees throughout …
The St. Paul Companies’ chairman and CEO Jay Fishman and executive vice president and CFO Thomas Bradley filed statements with the SEC certifying reports recently filed by the company are in complete accordance with SEC requirements. The reports certified include …
A new study released by National Marketing Services finds that executives of major reinsurers and carriers believe terrorism, pricing and capacity are the major challenges currently facing the industry. The new study, Insurance Industry Outlook 2002, is based on telephone …
Pennsylvania Attorney General Mike Fisher has sent a letter to Pennsylvania Insurance Commissioner Diane Koken urging her to suspend the imposition of the latest increase by the Professional Liability Joint Underwriting Association Fisher said the JUA has received approval for …
Massachusetts-based Report Disability Corporation named William Lanzen as CEO. Lanzen will be responsible for leading market developments, supporting all sales and marketing, product management, and services activities. He will also be responsible for developing relationships within the investment community and …
